NVIDIA Co. (NASDAQ:NVDA) is Harmony Asset Management LLC’s 3rd Largest Position

Harmony Asset Management LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,551 shares of the computer hardware maker’s stock after purchasing an additional 3,007 shares during the period. NVIDIA makes up 5.1% of Harmony Asset Management LLC’s portfolio, making the stock its 3rd biggest position. Harmony Asset Management LLC’s holdings in NVIDIA were worth $13,911,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. raised its holdings in NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after acquiring an additional 107,169 shares in the last quarter. Truepoint Inc. increased its position in shares of NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after buying an additional 208,362 shares in the last quarter. Palisade Asset Management LLC grew its position in shares of NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after acquiring an additional 75 shares in the last quarter. Finally, Blue Square Asset Management LLC increased its holdings in shares of NVIDIA by 26.7% in the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after acquiring an additional 10,136 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity

In related news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NASDAQ:NVDA opened at $133.57 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $139.49 and its 200 day moving average price is $128.87. NVIDIA Co. has a 52-week low of $54.74 and a 52-week high of $153.13. The firm has a market cap of $3.27 trillion, a P/E ratio of 52.57, a PEG ratio of 2.45 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 EPS. The business’s revenue was up 93.6% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NVDA. UBS Group raised their price objective on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC raised their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 price target (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Benchmark reiterated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Tuesday, January 7th. Finally, Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.27.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.